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The Big 5 Construct Egypt Returns Early September

The Big 5 Construct Egypt, the Cairo-based edition of The Big 5, is back for a second round pfrom September 2 to 4, during which experts, decision-makers, and exhibitors from the global construction sector will gather to explore business opportunities in the country

Housing Committee Mulls Amendments to Old-Rent Contracts

Egyptian Parliament's Housing Committee approved on June 11 a proposed amendment that would see tenants, who signed long-term leases before 1996 and are using their properties for non-residential purposes, pay significantly higher rents.

Siemens to Supply 1st Digital Power Transformer in Egypt

Egyptian Electricity Transmission Company (EETC) and global technology giant Siemens have agreed to supply the North African country with its first digital power transformer - "Siemens' Sensformer," aiming to boost energy reliability and efficiency of substations for the delta area.

Palm Hills’ Sales Inch Up to EGP 2.2 bn in Q1

Egypt’s Palm Hills Developments (PHD) posted EGP 2.2 bn sales (residential and commercial) in Q1 2019, with 374 units sold in total, marking a 5% surge YoY that arisen notably from continued uptake of launched properties in Palm Hills Alexandria.

Housing Ministry, AfDB Inspects USD 150.6 mn Sanitation Projects

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has met with representatives of the African Development Bank (AfDB) to review work done at two sanitation projects underway in west Cairo, which the bank funds with a total value of USD 150.6 mn.

Hassan Allam Holding Buys Majority Stake in Bioworks

Egypt's Hassan Allam Holding (HAH) has acquired a majority stake in German Bioworks AG, a global player in water and wastewater technology, representing a major extension to the former’s offerings and a pivotal expansion into the waste and water industries in the GCC, US, China, Africa, Russia, and CIS countries.

Three New Cairo Metro Stations to Open Ahead of AFCON 2019

Egypt’s transport ministry has officially announced the opening of three subway stations for pilot operation on June 15, as part of the fourth phase of Cairo Metro's Line III expansion project, coming shortly before the country hosts the 2019 African Cup of Nations (AFCON)

Netsync Eyes Investing in Smart Cities Development in Egypt

USA-based Netsync Network Solutions intends to highly invest in smart city technologies in Egypt and transfer its exceptional expertise to the market, given that the country comprises areas that can swiftly evolve into smart cities in a pace much like the New Administrative Capital (NAC), New Alamein, among others.

Annual Headline Inflation Up to 14.1% by End-May: CAPMAS

The Central Agency for Public Mobilization and Statistics (CAPMAS) reported a 1.1% rise in Egypt’s annual headline inflation rate in May, hitting 14.1%, up from 13% a month earlier.

ERC Proposes 8-12% Middle-Income Mortgages Interest Rates

The Egyptian Real Estate Council (ERC) has proposed renewing interest rates applied on mortgage financing for would-be middle-income homebuyers to range from 8 to 12%

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